Oak Harbor, Wash. — SimonCRE has acquired Island Plaza, a 92,112-square-foot shopping center located in Oak Harbor on Whidbey Island, with plans for a redevelopment. SimonCRE has already signed a 23,666-square-foot lease with a national soft goods retailer for the center’s largest available space. Additional small-shop space, which ranges in size from 875 square feet to 2,400 square feet, remains available for lease. Island Plaza comprises two multi-tenant buildings and a .50-acre pad site. Current tenants include Haggen, Jersey Mike’s Subs and Maurices, among others.
Spokane, Wash. — Spokane-based Kiemle Hagood has negotiated the $32 million sale of 5 Mile Shopping Center, a 163,000-square-foot, multi-tenant retail center in north Spokane. Romax 5 Mile LLC purchased the grocery-anchored property from 5-Mile Investment Company I LLC. Situated on 14.2 acres at 1812 W. Francis, the property features a mix of tenants including Rosauers, Starbucks Coffee, Chipotle Mexican Grill, Taco Bell, Washington Trust Bank, Mister Car Wash, GNC and Edward Jones. Casey Brazil and Richard Fox of Kiemle Hagood represented the seller, while Colin Conway and Steve McIntosh of …
Auburn, Wash. — Intercontinental Real Estate Corp. has acquired Lakeland Town Center, a 125,233-square-foot, grocery-anchored retail center located in Auburn, approximately 20 miles south of Seattle. Built in 2002, Lakeland Town Center is situated on 12.6 acres within the Lakeland Hills master-planned community. The property, which was fully leased at the time of sale, is home to a mix of tenants including Haggen Northwest Fresh, Subway, HopsnDrops, Rock Wood Fired Pizza, Puerto Vallarta Mexican, Sushi Konami, Ichi Teriyaki, Legendary Doughnuts, Nekter Juice Bar, Menchie’s Frozen Yogurt, Pacific Cataract and Laser Institute, …
Renton, Wash. — Newmark Retail Capital Markets has arranged the sale of Renton Highlands Shopping Center, a value-add retail center located at the intersection of 4110 and 4250 N.E. 4th St. in Renton, roughly 12 miles southeast of downtown Seattle. Cincinnati-based Phillips Edison & Co. purchased the center for $15.8 million, according to the Puget Sound Business Journal. At the time of sale, the 54,264-square-foot property was 82 percent leased. Current tenants include The Goddard School, Petco, AutoZone, DaVita Renton Dialysis and Chase Bank. The property is shadow anchored by …
Seattle — At its recent 2026 Investor Day, Starbucks Coffee Co. highlighted progress in its “Back to Starbucks” transformation plan. By fiscal 2028, the company expects to open 2,000 net new stores across its portfolio, including approximately 400 net new U.S. company-operated stores. Brady Brewer, chief executive officer for Starbucks International, shared the company’s plan to accelerate global growth in a program referred to as coffeehouse “uplifts.” With this plan, Starbucks expects to add more than 25,000 café seats across the U.S. by the end of fiscal 2026. Starbucks also announced …
Seattle — Amazon is announcing plans to close its Amazon Go and Amazon Fresh brick-and-mortar stores. A total of 57 Amazon Fresh and 15 Amazon Go stores will shut down in February, according to several media sources. Amazon first launched the cashier-less Amazon Go stores in 2018 and expanded in 2020 with the first Amazon Fresh grocery stores. According to the company, Amazon will instead focus on an effort to prioritize expansion for Whole Foods Market, which it acquired in 2017. Amazon is expected to open more than 100 new Whole …
Camas, Wash. — Forging Union LLC has acquired a 35,547-square-foot multi-tenant retail strip center located in Camas, approximately 20 miles east of Portland, for $18.7 million. Hurley Development was the seller. Situated on 2.5 acres, the property was fully leased at the time of sale to 15 tenants. Wes Bochner of CBRE represented the buyer in the transaction.
Philadelphia — Philadelphia-based specialty discount retailer Five Below is debuting its brand in the Pacific Northwest with seven new stores set to open across Washington and one in Oregon on Nov. 7. The new store locations in the region will include Sunrise Village in Puyallup; Celebration Center in Federal Way; Everett Mall in Everett; Evergreen Crossing in Spokane Valley; Valley Mall in Union Gap; Vintner Square in Richland; Alderwood Parkway in Lynnwood; and Cascade Plaza in Beaverton, Oregon. Founded in 2002, Five Below operates more than 1,850 stores in 44 …
Seattle — Starbucks Coffee has announced that it will be eliminating roughly 900 non-retail U.S. jobs, with additional plans to close several hundred underperforming company-operated stores, as part of a broader $1 billion restructuring effort. The company’s store count will decrease by about 1 percent, which translates to roughly 500 closures for the company, as reported by CNBC. Starbucks plans to end its fiscal year with almost 18,300 North American locations, including both company-operated and licensed cafés. Brian Niccol, chairman and CEO of Starbucks Coffee, stated that baristas from closing locations will receive severance packages or will be …
Lacey, Wash. — Curbline Properties and Agree Realty have separately acquired portions of Lacey Marketplace, a 125,204-square-foot power center in Lacey. Curbline Properties purchased the 31,885-square-foot retail component located at 1350 Marvin Road NE for an undisclosed price. Current tenants of the fully occupied property include Panera Bread, Mattress Firm, BECU, Verizon Wireless, Cutter’s Point Coffee and Panda Express. Meanwhile, Agree Realty acquired the remaining 93,319-square-foot big box component located at 1200 Marvin Road NE for $21 million. The fully occupied retail component features tenants such as Boot Barn, La-Z-Boy, …
Newer Posts